if I sign an 18mnth contract with o2 and break my phone 14 mnths later, what happens?? UPDATE: An answer direct from O2: "Thank you for emailing us to find out what would happen if you lose or break your iPhone. If you lose or break your iPhone within your contract term and if you don't have an insurance cover for the iPhone, you can purchase another iPhone at full price and continue your contract. The charge for the iPhone 8Gb (Gigabyte) is £269.00 and iPhone 16Gb is £329.00. You can purchase the iPhone from: O2 retail stores Apple retail stores Carphone Warehouse stores."